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Revised Article 3
Refers to the updated section of the Uniform Commercial Code (UCC) that governs negotiable instruments, including the processes for issuing, transferring, and enforcing such documents.
Negotiable
Capable of being transferred or endorsed from one party to another in accordance with the law, generally referring to legal documents like checks.
Negotiable
Refers to the quality of a document or instrument that can be transferred or assigned from one party to another as a form of payment or financial instrument.
Uncertain Event
An event with an outcome that cannot be predicted with precision due to lack of definite knowledge or its reliance on chance.
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